Senior HR Officer
Save up to 30%* on our Merchant Card Processing.
Dear Customer, We have launched AI powered KYC & KYB facility for New customer account opening.
Used cars retailer Autohero.com generated 1 billion euros in sales in 2022. That is an increase of over 80 percent compared to the year before. This is mostly due to raising prices of used cars following supply chain shortages.
Autohero is owned by the German Auto1 Group, which also owns Wijkopenautos.nl in the Netherlands and similar online stores in other European countries. The mother company, which operates in 30 European markets, recently shared its 2022 results.
Over the whole of 2022, the used cars seller generated 1 billion euros in sales. That is a growth of 82.5 percent compared to the year before. During the last three months of 2022, Autohero sold 16,647 cars in its European markets. In that quarter, the company generated 265 million euros in sales. This comes down to a gross profit per unit (GPU) of 1,254 euros – a threefold increase compared to 2021.
Prices are higher due to microchips shortages.
The growth in revenue is mostly due to raising prices of used cars. Prices are higher because of microchips shortages after the pandemic, slowing down the production of new cars. According to Business Plus, used vehicles were as much as 67 percent more expensive in 2022 compared to before the pandemic.
Autohero’s mother company sold 649,709 vehicles over last year, generating sales of 6.5 billion euros. This is 37 percent more than a year prior. Gross profits were 488 million euros, up 13 percent from 2021.
Auto1 Group sales were up 37 percent.
“By offering our customers a significantly better experience, our platform is increasingly becoming the central point for used car transactions”, says Auto1 Group’s CEO and co-founder Christian Bertermann. “We are still at the very beginning of our journey and I look forward to continuing our mission to reinvent the used car market both this year and beyond.”